Baltimore sportswear maker acknowledges ongoing SEC, DOJ investigation
On November 4, 2019, Under Armour, Inc., a Maryland-based sports apparel company, stated in a filing with the US Securities and Exchange Commission (SEC) that since 2017 it has been responding to requests by the SEC and the US Department of Justice concerning an investigation of the Company’s accounting practices. Under Armour did not provide additional details; however, its November 4 disclosure came amid media reports suggesting that the investigations are focused on the Company’s revenue recognition.